Daily Crunch: China postpones Ant Group IPO

Yes, there’s a high-stakes presidential election underway, but tech word doesn’t stop entirely: Chinese regulators gather the dampers on Ant Group’s IPO, Spotify includes standalone streaming subsidize on Apple Watch and PayPal delineates its plans for 2021. This is your Daily Crunch for November 3, 2020.

The large-scale legend: China adjourns Ant Group IPO

The Shanghai stock exchange has postponed Ant Group’s IPO a daylight after Chinese regulators deemed a closed-door meeting with Jack Ma and other corporation execs. The company has also halted a blueprint for its public register in Hong Kong.

Ant Group, a monetary technology heavyweight that spun out of Alibaba, was previously on track to raise $34.5 billion in the world’s largest IPO. It’s not exactly clear why the offering was announced off, but Alibaba’s benefactor Ma recently gave a speech criticizing China’s financial regulation.

” We are sincerely sorry for any inconvenience brought to investors ,” the company said in a statement.” We will properly handle follow-up difficulties following compliance regulations of the two exchanges .”

The tech giants

Spotify includes standalone streaming support to its Apple Watch app — The feature was recognise in testing back in September, and it arrives approximately two years after Spotify first debuted its dedicated Apple Watch app.

Twitter disguises Trump tweet attacking Supreme Court’s decision on Pennsylvania referendums — In a preview of what to expect in the coming days, President Trump pushed the limits on Twitter’s election-specific plans Monday night.

PayPal details its digital pouch plans for 2021, including crypto, Honey integration and more — The company said it plans to roll out substantial changes to its mobile apps over the next year, including support for improved direct situate, crypto and all of Honey’s supermarket tools.

Startups, funding and venture capital

REEF Technology collects $700 M from SoftBank and others to remake parking lots — REEF began its life as Miami-based ParkJockey, equipment, software and management services for parking lots.

Udacity causes $75 M in debt, says its tech education business is fruitful after enterprise rotate — The online ascertain busines is now focused on winning over business customers.

Walmart apparently dissolves contract with inventory robotics startup Bossa Nova — Walmart has reportedly drew the push on one of its highest-profile partnerships.

Advice and analysis from Extra Crunch

Four takeaways from fintech VC in Q3 2020 — The latest on insurtech, banking, prosperity management and fees startups.

Gaming regulates the entertainment industry, so why aren’t investors presenting up ? — Venture task doesn’t seem to match the dimensions of the video games market.

How startups can shake up their first theory and still crush world markets — Some considers on the ol’ startup pivot.

( Reminder: Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here .)

Everything else

Tech capitals rip higher on Election Day — The amplifications came long before any results that would indicate the election’s winner.

NBC News openings an iOS 14 widget that settles election results on your home screen — NBC News allows users to customize a series of widgets with intelligence be attributed to early voting stats, tallies, current election results and more.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important narrations. If you’d like to do this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

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